VF Corp Rating Lowered to Neutral at Goldman Sachs (VFC)
VF Corp (NYSE:VFC) was downgraded by equities researchers at Goldman Sachs from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, TheFlyOnTheWall.com reports.
VF Corp (NYSE:VFC) last issued its quarterly earnings data on Friday, February 14th. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by $0.02. The company had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, March 20th. Shareholders of record on Monday, March 10th will be given a dividend of $0.2625 per share. This represents a $1.05 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, March 6th.
A number of other firms have also recently commented on VFC. Analysts at Janney Montgomery Scott reiterated a “fair value” rating on shares of VF Corp in a research note on Tuesday, February 18th. They now have a $65.00 price target on the stock, down previously from $70.00. Separately, analysts at Barclays raised their price target on shares of VF Corp from $56.00 to $60.00 in a research note on Tuesday, February 18th. They now have an “overweight” rating on the stock. Finally, analysts at Ned Davis Research upgraded shares of VF Corp from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 18th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $146.89.
In other VF Corp news, Director Juliana Chugg acquired 1,646 shares of the stock on the open market in a transaction that occurred on Friday, February 21st. The shares were purchased at an average price of $58.52 per share, with a total value of $96,323.92. Following the acquisition, the director now directly owns 15,837 shares of the company’s stock, valued at approximately $926,781. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
V.F. Corporation (NYSE:VFC) is a global apparel company based in the United States.
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